Posted on 04/18/2017 4:55:47 AM PDT by Kaslin
FLAT TAX!!!!
10% across the board- NO DEDUCTIONS (not even real estate)
AND- (this is the important part) THE GOVERNMENT HAS TO LIVE WITHIN THAT INCOME - no more ‘deficit spending’
And if you like the ‘fair tax’ with the ‘pre-bate’ and ‘tax inclusive’ 27% rate please allow me to beat some sense into you
A lot of the complexity that adds to tax preparation expense does not even come from what most of us would consider “income”, it comes from capital gains, dividend “income”, interest “income”, etc. For everyone who proposes a flat tax, you are not really solving the problem unless you redefine income to mean “wages” as it was originally intended to mean. I am ashamed to say that I spent over $700 on tax preparation fees this year; my old preparer retired last year (usually spent around $200).
Yes, and the rats have also blocked tax reform for decades. A complicated tax scheme assembled by lawyers, tax lawyers, lawyer politicians, and other assorted con artists. A national sales tax would put them all out of business.
One comment about the Netherlands: I went there about 10 years ago at the invitation of Dutch Health, an arm of their socialist government. I was to be reimbursed for all expenses. It took nearly 10 months for this to occur, because they lost my receipt copies twice. That’s right, I had to send in receipts 3 times, after making the trip to lay out an experimental plan for them, for free, to test the bioavailability of Pb from the hoard of Pb-contaminated sites on which they have built their residential houses.
I spent $600 last year and don’t have the bill for this year. I’ve been spending at least $500 for years. National sales tax is what it needed, that way, everybody pays something.
Mandate that ALL government employees do their own taxes. See how they like that sh!t.
Flat tax.
I think you have that exactly backwards.
Wages are not “income” because you have traded your labor for money of exactly the same value.
Capital Gains, Dividends, and Interest are “income” because you put in a certain value and received a higher value in return.
We could get closer to a flat tax and eliminating deductions and tax credits if an AMT applied to everyone, not just those of higher incomes.
Suppose everyone owed the GREATER of 10% of AGI or whatever the tax code dictated for their bracket after deductions and credits. If deductions, exemptions and credits take your tax bill under 10%, tough, you still owe 10%. When deductions are useless, people won’t care when they are eventually phased out.
Of course the Dimms would go crazy saying it would negate the goal of EITC for poor workers, be a “regressive tax”, etc. Compromise by giving them the Minimum Wage increase they want to $10/hr indexed to inflation so we don’t have to revisit it every few years. So the “poor workers” they are championing get a 25% pay raise but have to now pay 10% tax, and they are still way ahead.
You don’t need a sales tax to make sue everyone pays.
You could make a minimum income tax rate no matter what deductions and credits would otherwise do — an AMT for everyone, not just the high earners.
Or you could have businesses pay a 5% tax on gross revenues instead of profits, and everyone would pay as that tax was embedded in the price of everything they buy. A 5% GRT would replace ALL other federal taxes including Corporate and Personal Income taxes and SS/M taxes. It would have to be paired with import tariffs and export credits, however, or it would kill off American manufacturing even worse than the embedded corporate and payroll taxes are doing.
Problem with income tax, is 50% of the population will continue to make no contribution. National sales tax fixes that glaring disparity.
Eliminate Mandatory Withholding and there will be a Tax Revolution overnight.
Agree, consumption taxes are the best tax. The tax is then "voluntary", and you get less of what you tax, so taxing anything that leads to growth (e.g. income)is the wrong idea.
In addition, those with great buying power will pay more taxes. This will hit the homowood glitterati, and the elites right in the snout.
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FLAT TAX!!!!
10% across the board- NO DEDUCTIONS (not even real estate)
AND- (this is the important part) THE GOVERNMENT HAS TO LIVE WITHIN THAT INCOME - no more ‘deficit spending’
And if you like the ‘fair tax’ with the ‘pre-bate’ and ‘tax inclusive’ 27% rate please allow me to beat some sense into you
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No. No. No. Fair Tax w/o ‘prebates’.
1) Flat tax is still an involuntary\slave tax, Fair Tax is VOLUNTARY.
2) Flat tax does NOT encompass ALL (there are those still w/o skin in the game).
3) The govt. is TOO damn big; start it @ 10-15% and reduce it til it IS of Constitutional size. (Fair Tax is too high); it need not be ‘revenue neutral’.
4) Flat tax would still require SOME form of collection agency. Fair Tax uses the existing sales tax (person/biz > biz > State > Fed) = no need for record keeping/etc. & multi-steps removed from govt intrusion.
5) Fair Tax would encourage re-use/barter/trade/etc.
NOBODY should pay $0% taxes. Govt for/by/of the People, ALL the People should pay.
If you got any more ‘sense’ to debate, I’m listening.
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Eliminate Mandatory Withholding and there will be a Tax Revolution overnight.
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(Small)biz already do this....don’t recall any street revolts just yet.
You’re talking about EXISTING piggy-banks, I mean taxpayers. If they haven’t figured what’s taken out a/o WHY for/to WHOM, writing a quarterly check, IMO, isn’t going to do much for the other 50.x% whom don’t.
What percentage are ya thinkin? Curious.
I have not crunched the numbers or looked it up, say 15%. What say you?
Not sure....love it to be 10-12%. My effective tax rate now is about 17%.
Our income is too low to purchase health insurance (almost all of my wife’s monthly pay would go to premiums) so we didn’t get any form 1095’s. Without 1095’s the tax return has an error. If the tax return has an error you cannot e-file your federal tax return. If you cannot e-file your federal tax form you also cannot e-file your state tax form. If nothing else, the congress needs to sever the link between health insurance and the income tax.
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